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Repsol and Ineos interested in ExxonMobil Gulf of Mexico oilfields

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Oilfield Technology,

As reported by Bloomberg, ExxonMobil has drawn interest from Repsol SA and petrochemical company Ineos Group Holdings in a package of oilfields it is selling in the Gulf of Mexico, according to people familiar with the matter.

The assets could be worth as much as US$1.5 billion, said one of the people, who asked not to be named because the talks are private. A sale to Repsol would expand its existing position in the prolific offshore region, while for Ineos it would mark its debut as an oil and gas producer in the Gulf. The UK company already has petrochemical plants in the southern US.

A sale agreement could be signed in as soon as one month, the people said, although no deal has been agreed upon so far and the talks could still fall apart. Exxon, Ineos and Repsol declined to comment on the talks.

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